When he started his Perth company George Stubbs had no staff, second hand furniture and his main asset was a coffee machine.
Three decades years later, GS Group boasts 60 staff, four offices and revenues of £25 million a year.
It’s been a long journey for the company to become Scotland’s largest independent insurance broker. The title was assumed when fellow Fair City firm Clark Thomson was acquired by Marsh in 2018.
Mr Stubbs said the position, while never a target, is a “huge source of pride”.
The managing director said: “It’s strange to look back and think it was just me and a coffee machine at the start, with second hand furniture acquired from the then General Accident.
“A friend came in to help man the phones.
“Two years later the original office in Marshall Place was flooded and I remember looking out to see windsurfers going past.
“That provided me with personal experience of the need for any business or home to have proper insurance cover.”
‘We feared we were facing Doomsday’
As well as its headquarters in Perth’s Shore Road, GS Group has offices in Dundee, Aberdeen and Glasgow.
Its financial services wing has grown into one of Scotland’s leading independent financial advisors.
Despite his worst fears at the start of the pandemic, Mr Stubbs said the business had provided “incredibly resilient”.
“In April when we went into lockdown, we feared we were facing Doomsday, with so many clients shutting-up shop.
“But people need insurance cover and we have the experience and skills set required for clients in a hardening market.
“We have even been helping other smaller independent operators place business.
“Obviously some sectors, like leisure and hospitality, have been badly hit. But there have also been many success stories during these unprecedented times.
“It has been a time for businesses to stick together and help each other where possible.”
GS Group charity fundraising
Five years ago, for the firm’s 25th anniversary, the company held a charity fundraising dinner.
It raised more than £20,000 for Scotland’s Charity Air Ambulance and the Royal Hospital for Sick Children in Glasgow.
Covid means a similar event won’t be held this milestone, but a staff family day is planned for Crieff Hydro.
Mr Stubbs said it’s his way of thanking his company’s most valuable asset – no longer a coffee machine but its staff.
“These have been tough times for everyone,” he added.
“I wanted to recognise both the work of our staff and the support they have enjoyed from their families over the past 18 months.
“It will be good to get everyone together in a safe environment to mark the anniversary.”